Can you leverage on DeFi?

💯 Yes! Whereas the general idea of leverages is the same in both traditional and crypto finance, a major difference lies in the action of borrowing.

☝️ As the only identity on the blockchain is merely a string of alphabetic codes, it would be almost impossible to borrow upon credit. In other words, DeFi borrowing is usually fully collateralized.

In the case of DeFi, there are three main types of leveraged products with different mechanisms to create leverage:
➡️ Margin Trading,
➡️ Perpetual Contracts, and
➡️ Leveraged Tokens.

🎯 To succeed in leveraged trading, users should carefully review the models deployed and do extensive research on their own.

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🪙 Cryptocurrency represents the next phase of finance, but to get there means taking important steps and adopting meaningful controls to satisfy the demands of traditionally staid industries like financial services.

☝️ The good news is that the market recognizes that mainstreaming cryptocurrency is inevitable.

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Crypto shrimps🦐 and whales🐋 are two contrasting groups of HODLers investors who “hold on for dear life” as a long-term proposition.

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☝️ It is important for cryptocurrency investors to be aware of projects that claim to offer token holders governance rights but take major decisions without seeking approval or feedback from their community.

The following are examples of such instances and how to avoid similar outcomes in the future:

✔️ Anonymous Developers
✔️ Cult Personalities
✔️ Appear to operate in a centralized manner

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💡 DeFi wallets are non-custodial wallets that store cryptocurrency assets. You cannot access your funds without the seed phrase or private key (the equivalent of a password).

However, different crypto wallet types provide improved security measures in comparison to traditional wallets.

It never stores the actual cryptocurrency, but they ensure the storage of keys to the crypto assets and also holds the information for connecting individuals to funds to ensure their safety.

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